Cabinet approved state budget draft

The budget for next year is based on projected growth of 3.5 percent for the Slovak economy, which is similar to what Slovakia has experienced over the past two years, said Finance Minister Peter Kažimír (Smer-SD) after the Cabinet approved the state budget draft for next year on Wednesday. In the next year a watershed moment is expected to occur, as Slovakia will record a primary surplus. "The primary surplus means that if we deduct interest paid on Government debt from total expenditures, we're already in the black and no longer in a deficit," said Kažimír. The Environment Ministry will see the highest annual budget increase at 257 percent but most of the funds will in fact come from the European Union. The state will allocate €120 million less money to the Health Ministry, but it expects to compensate it via higher revenues from the mandatory contribution to the health insurance paid by the increasing number of economically active members of the population. The state will pay for the health insurance of about 3.01 million people next year. These are pensioners, unemployed and mothers on maternity leave. Finance Minister Peter Kažimír (Smer-SD) expects that, thanks to various measures, some €174 million will be saved in the healthcare system next year. Health Minister Tomas Drucker (a Smer-SD nominee) said that this draft "will require significant restructuring measures in the sector".